CH1 - Chapter 1 Accounting Information Systems and the...

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Unformatted text preview: Chapter 1: Accounting Information Systems and the Accountant Presentation Outline 1. What Are Accounting Information Systems- Information Systems- AIS in Organizations 2. What’s New in Accounting Information Systems 3. Accounting and Information Technology- Financial Accounting- Managerial Accounting- Auditing- Taxation 4. Careers in Accounting Information Systems 5. New CPA Exam WHAT ARE ACCOUNTING INFORMATION SYSTEMS ♦ A System is an entity consisting of interacting parts that are coordinated to achieve one or more common objectives. ♦ An Information system is a set of interrelated subsystems that work together to collect , process , store , transform , and distribute information for planning, decision making, and control. ♦ It evolves over time and becomes more formalized and complex as a firm grows. ♦ Firms depend on information systems in order to stay competitive. ♦ Any information system performs four major tasks: Input. The system must acquire (capture) data from within or outside of the entity. Transformation. Raw materials (data) are converted into knowledge useful for decision making (information). Output. The ultimate purpose of the system is communication of results to internal or external users. Storage. Before, during, and after processing, data must be temporarily or permanently stored, for example, in files or databases. Inputs Processes Outputs Data/Information Organize, Calculate Information for Decision Storage Accounting Information Systems ♦ An Accounting Information System is a collection of data and processing procedures that creates needed information for its users. ♦ The AIS has traditionally focused on collecting, processing, and communicating financial-oriented information to a company’s external/internal parties. ♦ The AIS today is a part of an enterprise-wide information system, focused on business processes . It has evolved to serve the needs of users at all levels of the organization hierarchy, and even, with the advent of fast communications, users outside the organization. ♦ Historically, a Management Information System provided financial and non-financial information to internal users (management). ♦ The Accounting Information System provided financial Accounting Information Systems AIS Financial Information for Internal & External Users MIS Financial & Non-Financial Information for Internal Users Enterprise-Wide Information System Which of the following is NOT true about accounting information systems (AISs)? a. All AISs are computerized. b. AISs may report both financial and nonfinancial information. c. AISs, in addition to collecting and distributing large amounts of data and information, also organize and store data for future uses....
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This note was uploaded on 10/04/2011 for the course AIS 203 taught by Professor 4 during the Spring '11 term at University of Minnesota Crookston.

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CH1 - Chapter 1 Accounting Information Systems and the...

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